Nano Labs Ltd. Sponsored ADR (NASDAQ:NA – Get Free Report)’s stock price was up 7.5% during mid-day trading on Thursday. The stock traded as high as $1.89 and last traded at $1.86. 8,958 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 37,685 shares. The stock had previously closed at $1.73.
Wall Street Analyst Weigh In
Separately, Weiss Ratings downgraded Nano Labs from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, September 21st. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.
Check Out Our Latest Stock Report on NA
Nano Labs Stock Up 3.2%
The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.17 and a current ratio of 1.20. The firm’s fifty day moving average price is $2.11 and its two-hundred day moving average price is $2.16.
Nano Labs (NASDAQ:NA – Get Free Report) last announced its quarterly earnings results on Friday, August 28th. The company reported ($1.00) earnings per share (EPS) for the quarter. The company had revenue of $0.20 million for the quarter.
Insider Buying and Selling at Nano Labs
In other news, Director Nan Hu sold 11,165 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $2.25, for a total transaction of $25,121.25. Following the sale, the director directly owned 27,651 shares of the company’s stock, valued at $62,214.75. This represents a 28.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
About Nano Labs
Nano Labs Limited is a fabless integrated circuit design company focused on developing computing solutions for applications including blockchain, cryptocurrency mining, and other high-performance computing workloads. The company designs specialized chips and related hardware rather than operating its own semiconductor manufacturing facilities.
Its product portfolio has included application-specific integrated circuit (ASIC) products for blockchain computing, including the Cuckoo series of chips and mining-machine solutions.
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